ENFR

Investors Overview

Investors

For tax reporting of MCAN dividends, T5 tax slips are issued by the brokerage firm through which you purchased the MCAN shares. If you have not received your T5 tax slip, please contact your broker directly as MCAN is not involved in sending these out.

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Find Corporate Documents, Board Mandates on our Corporate Governance page.

MCAN’s primary objective is to generate a reliable stream of income by investing in a diversified portfolio of Canadian mortgages focused on single-family residential mortgages and residential construction loans, as well as other types of loans and investments, real estate and securitization investments.

MCAN’s business model provides focused investing in products and markets where MCAN has extensive expertise to generate attractive financial returns. MCAN’s Board of Directors and Management Team possess significant experience in the financial, investment and real estate industries.

  1. Stable earnings profile Stable and regular dividend payments. Regular dividend has increased over the past decade and in October 2017 we announced our regular dividend would increase to $0.37 per share. We typically pay out all taxable income as dividends.
  2. Proven investment expertise High quality portfolio; mortgages in arrears actively managed.
  3. Low cost business model Ability to use low-cost leverage to generate returns to shareholders. In-house origination capabilities through our wholly-owned subsidiary, XMC Mortgage Corporation. Flexibility to adapt and reposition according to market conditions.
  4. Strong Capital Position Common Equity Tier 1, Tier 1 and Total Capital Ratios well in excess of OSFI minimum requirements. Preservation of capital is MCAN’s primary core value.

MCAN is a strategic investor in the Canadian real estate market. Our portfolio is focused on uninsured single-family mortgages and residential construction loans where we have proven investment expertise. Our exposure to the residential construction market provides in-depth knowledge of the regions that we invest in to support the uninsured single-family portfolio.

Leverage from CDIC-eligible term deposits provides a cost-effective source of funding for our investments. Yield from the investing operations provides returns to shareholders via distributions that are made tax efficient through MCAN’s mortgage investment corporation (MIC) structure. The basic characteristics of a MIC are:

  • Investment platform focused primarily on residential mortgage lending
  • Taxable income distributed directly to shareholders
  • Effectively a non-taxed flow-through entity
  • Majority of dividends received by shareholders taxed as interest income
  • Attractive investment option for tax-exempt institutions, in addition to tax-deferred and tax-free investment accounts (RRSP, RESP, and TFSA).

Analyst Coverage

The following analysts provide research coverage on MCAN Mortgage Corporation:

  • Catalyst Equity Research Inc. – Robin Cornwell
  • National Bank Financial – Jaeme Gloyn